Long-Term Care

As the oldest baby boomers begin to wind through their 70s, one of the biggest concerns may not be outliving income, but outliving good health.← Back to Services

Long-Term Care Strategies

As the oldest baby boomers begin to wind through their 70s, one of the biggest concerns may not be outliving income, but outliving good health.

For retirees, home health care can cost $42,000 or more per year1, and nursing home care can run as high as $91,250 per year.2

Considering that you could have to reduce your financial means before Medicaid will pay for long-term care and neither your employer group health insurance nor major medical insurance will cover long-term care, you may want to consider planning ahead for these potential expenses.

We can help evaluate your situation and determine if purchasing a long-term care insurance policy may be the right move to help you feel confident about your financial future.

An optional rider is an additional feature available with some life insurance policies, and generally comes with an additional cost. Optional riders are designed to provide additional options above and beyond the standard provisions in life insurance.

Strategies for Your Financial Future

To schedule a time to discuss your financial future and the possible role of insurance or investments in your financial strategy, contact us at jpapa@diversifiedplanningstrategies.com or call us at 973.226.6000 today!

Have Questions for John Papa?

It can be difficult to make financial decisions without access to information. If you have questions or concerns about your current retirement strategy, feel free to contact us using the form below.

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Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. None of the information contained on this website shall constitute an offer to sell or solicit any offer to buy a security or any insurance product.

We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives.

Diversified Planning Strategies, LLC is not endorsed by nor affiliated with these media outlets.